Proposed New
pp. 140-141 · Read in the full issue
N. Caledonian
Iron Ore
Proposed New Industry for NSW
IT may be years before proposals by French industrial organisa tions to build a big new steel works at Port Stephens, north of Newcastle, NSW, come to anything (see Oct. PIM) .
A French trade authority said in Sydney early in November that the French interests were waiting to see if they could get the finance.
“France is not in a position to find the money for a project like that,” he said. “We can bring the iron ore in from New Caledonia, and possibly the equipment, but we can’t get the £100,000,000 sterling which is the amount of money required.”
He said that American organisa tions would probably be interested in the project if the Australian Government would make a clear statement about the proposal. BHP would have to make its position clear about accepting competition.
“The Queensland and New South Wales Governments are interested,” he said.
“We have the iron ore in New Caledonia. We are close to Aus tralia and it is cheaper to carry the
iron ore from there to Newcastle than it is to, carry it from Western Australia. But first many problems, including the ones I mentioned, have to be overcome in Australia.”
The Australian steel industry at present is unable to satisfy the local demand for steel. And apart from the desirability of stepping up
supplies, another steel plant revive the coal mining indus?
NSW, which is in a state of stt tion. t Mr. Cyril Miller, British CC representative in Fiji, returneo Mrs. Miller to Suva in Octoben leave in the United Kingdom
Gold Dredging, Ltd—Mr. Albert
has been appointed general manager Bulolo Gold Dredging, Ltd., and alth-New Guinea Timbers, Ltd. He r. Lars W. Bergstrand, who has fe rn that appointment with Hie two to take up special duties for them utha Development, Ltd., in Australia. * * * AIRWAYS, LTD.—This company will holding company and make the of a bonus issue to both ordinary ence shareholders. The holding corn offer 12 of its ordinary 5/- shares 20 now held—the equivalent of a bonus. It will offer preference s nine of its ordinary shares for preference share. Directors expect 0 per cent, dividend on the new in interim half-year preference and lividend of 5 per cent, (last year per cent., final 7\ per cent.) is 1 November 22. * * *
Para Rubber Estates, Ltd.—The
[Mr. P. Pring) said at annual meet production of kenaf in New Guinea se. Eriama Estates (Holdings), Ltd., Koitaki subscribed, has decided to ments. Eriama had insufficient funds, overnraent would give no additional * * *
(Fiji) Gold Mines Nl.—A Steady
f 1/- (including lOd tax free), pay ecember 18, has been declared. The istribution in July was also 1/-. * * *
(Gold Ice Cream Co.—This Sub
the NZ firm of Frozen Products, Ltd., i a contract with the Seiaute Ice iperative of Western Samoa to supply all the ice cream consumed in the iaute consists of 22 to 25 principal Western Samoa. perative has arranged complete local rith 0. F. Nelson, Ltd., and the •airy Company, owners of the only freezers in the islands. The corn been supplying Western Samoa since * * *
Jinea Goldfields, Ltd.—A Capital
of 6d a share will be made on 30. sr return: Golden Ridges Mill treated > of ore for 1,003 oz fine gold and silver. Golden Ridges Alluvials pro oz fine gold and tributes 139 oz. >duced was 158,801 super, ft. * * *
C Island And Byron Bay Whaling
-The general manager, Mr. T. Hamil jnced that the company caught its 150 whales for its first Norfolk >on with five days to spare. "A very season," he commented. The 1 shares were to be split into 5/jt the middle of this month and listed soon afterwards. * * *
Apinaipi Petroleum Co., Ltd —
the good support given to the current executives of the company went to I month for field consultations with geologist, Mr. R. T. Matthews. The are Mr. A._ E. Prince, deputy Mr. R. R. Ritcher, drilling super- Mr. D. M. Traves, geologist, Mr. G. use, operations manager, and Mr. me. Issue of 3 000,000 5/- shares sed on October 31.
PLACER DEVELOPMENT, LTD —lnterim dividend of 50 cents (Canadian currency) per share became due on November 16, and will be paid from all offices of the company on December 7.
Payment from the Sydney office will be made in Australian currency, calculated on the rate of exchange ruling on November 16. Dividends to non-residents of Canada will be subject to Canada absentee tax of 15 per cent. ♦ * *
Solomon Islands Rubber Plantations,
LTD. —Profit for the year ended July 31, 1956, after depreciation and Australian and Solomon Islands taxation was £1,369. A dividend of 10 per cent, on preference shares absorbs £990.
A resolution that the company be wound up voluntarily will be discussed at an extra ordinary general meeting in Brisbane on November 30. * * * UNILEVER (AUST.), LTD.—The company has made an offer for the preference and preferred
o/d'pa/y shares of W. H. Burford and Co., Ltd..
Adelaide soap maker. The offer is 18/- for each 5 per cent. cum. pref., 25/- for the 7 per cent. cum. prefs., and 35/- for the 10 per *. ce Ull,-, cum * Inference ordinaries, and is ai? rt th £ / 0 7 n ,5 5 .Unilever (Aust.) already holds all the £90,000 issued ordinary capital. t Ratu Edward Cakobau was in Noumea early November to assist the UK delegation at the 16th session of the South Pacific Com misson. Sir Ronald Garvey, who at tended the first part of the session, had to leave for Suva before it was finished. tCurrent Papua-New Guinea stamps will be overprinted to meet the re cent rise in postal rates.